About MGIC

MGIC Investment Corporation (NYSE: MTG) is the parent of Mortgage Guaranty Insurance Corporation (MGIC). Based in Milwaukee, Wisconsin, MGIC serves more than 5,000 lenders across the U.S., Puerto Rico, Guam, and Australia.

As the nation's leading provider of private mortgage insurance, MGIC provides a critical component of our country's residential mortgage finance system, protecting mortgage investors from credit losses. Private MI also benefits consumers by helping them achieve homeownership sooner with low-down-payment loans.

We are not just the leader, but the founder of an industry that has made homeownership possible for millions of families. Our strength comes from our rich history, dynamic leadership and employee commitment to providing quality products and customer service.

MGIC's History

In 1957, Max Karl, a real estate attorney in Milwaukee, Wisconsin, understood how hard it was to save for a down payment on a home. He also understood the risks that banks faced in lending money for a mortgage. At the time, the only way to get a mortgage was to close the loan with a 20% down payment and a 100% government guarantee.

Frustrated with the red tape and bureaucracy of that system, Mr. Karl sought to find a better way to provide low-down-payment financing to borrowers. With the backing of investors, family and friends, he established a private company that insured a portion of a mortgage loan, reducing the risk for lenders and allowing borrowers to put less than 20% down.

That company is Mortgage Guaranty Insurance Corporation or MGIC. Over 50 years later, saving for a down payment is still difficult. And MGIC is still here, working with mortgage lenders and helping people afford homes with low-down-payment loans.